Trust Co of the South Grows Stock Position in Illinois Tool Works Inc. $ITW

by · The Markets Daily

Trust Co of the South grew its position in shares of Illinois Tool Works Inc. (NYSE:ITW – Free Report) by 6.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,570 shares of the industrial products company’s stock after acquiring an additional 92 shares during the quarter. Trust Co of the South’s holdings in Illinois Tool Works were worth $388,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of ITW. Ameriflex Group Inc. acquired a new stake in Illinois Tool Works during the 4th quarter valued at approximately $26,000. von Borstel & Associates Inc. bought a new position in Illinois Tool Works during the 1st quarter worth approximately $26,000. Saudi Central Bank bought a new position in Illinois Tool Works during the 1st quarter worth approximately $29,000. 1248 Management LLC bought a new position in Illinois Tool Works during the 1st quarter worth approximately $30,000. Finally, Banque Transatlantique SA bought a new position in Illinois Tool Works during the 1st quarter worth approximately $30,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

Shares of NYSE ITW opened at $263.41 on Friday. The business’s 50-day moving average price is $260.68 and its two-hundred day moving average price is $250.88. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.59 and a quick ratio of 1.15. Illinois Tool Works Inc. has a one year low of $214.66 and a one year high of $279.13. The company has a market capitalization of $76.78 billion, a P/E ratio of 23.09, a price-to-earnings-growth ratio of 5.75 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW – Get Free Report) last issued its earnings results on Wednesday, July 30th. The industrial products company reported $2.58 EPS for the quarter, beating analysts’ consensus estimates of $2.56 by $0.02. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.The firm had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the previous year, the company posted $2.54 earnings per share. The business’s quarterly revenue was up .6% compared to the same quarter last year. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. Analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $1.61 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.44 annualized dividend and a yield of 2.4%. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.50. Illinois Tool Works’s dividend payout ratio (DPR) is currently 52.59%.

Analysts Set New Price Targets

Several analysts recently issued reports on ITW shares. Truist Financial downgraded Illinois Tool Works from a “buy” rating to a “hold” rating and set a $283.00 price target on the stock. in a report on Thursday, July 31st. Stifel Nicolaus lifted their price target on Illinois Tool Works from $255.00 to $261.00 and gave the company a “hold” rating in a research report on Thursday, July 31st. Evercore ISI set a $265.00 price target on Illinois Tool Works and gave the company an “underperform” rating in a research report on Tuesday, August 19th. Wells Fargo & Company lifted their price target on Illinois Tool Works from $235.00 to $250.00 and gave the company an “underweight” rating in a research report on Thursday, July 31st. Finally, Citigroup lifted their target price on Illinois Tool Works from $254.00 to $265.00 and gave the stock a “neutral” rating in a report on Monday, July 14th. One analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $260.67.

Get Our Latest Report on Illinois Tool Works

Illinois Tool Works Company Profile

(Free Report)

Illinois Tool Works Inc manufactures and sells industrial products and equipment in the United States and internationally. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.

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